Isaacs v Commissioner of Taxation [2006] FCAFC 105

FEDERAL COURT OF AUSTRALIA

Isaacs v Commissioner of Taxation [2006] FCAFC 105 ADMINISTRATIVE LAW – review of decision of Commissioner to disallow objection decision – whether Tribunal had jurisdiction to hear review TAXATION – employee share schemes – Commissioner has discretion to extend time for election that benefit under scheme is to be treated as assessable income in the year of income in which the benefit is conferred, rather than year it is realised – whether Tribunal can exercise that discretion when reviewing objection decision Administrative Appeals Tribunal Act 1975 (Cth), ss 25, 27, 28, 43, 44 Administrative Decisions (Judicial Review) Act 1977 (Cth) Income Tax Assessment Act 1936 (Cth) ss 139B, 139C, 139CB, 139CC, 139E Taxation Administration Act 1953 (Cth) ss 14ZL, 14ZU, 14ZW, 14ZY, 14ZZ, 14ZZA, 14ZZK, 161, 166, 170, 173, 174, 175A Batagol v Federal Commissioner of Taxation (1963) 109 CLR 243 referred to Commonwealth Bank Officers Superannuation Corporation Pty Ltd v Commissioner of Taxation (2005) 148 FCR 427 referred to FJ Bloemen Pty Ltd v Commissioner of Taxation (Cth) (1981) 147 CLR 360 referred to Henderson v Commissioner of Taxation (1970) 119 CLR 612 referred to PHILLIP ISAACS v COMMISSIONER OF TAXATION NSD2174 OF 2005 EMMETT, SIOPIS & RARES JJ 30 JUNE 2006 SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD2174 OF 2005

BETWEEN: PHILLIP ISAACS

APPLICANT

AND: COMMISSIONER OF TAXATION

RESPONDENT

JUDGES: EMMETT, SIOPIS & RARES JJ

DATE OF ORDER: 30 JUNE 2006

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The appeal be dismissed. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD2174 OF 2005